NZD/USD Is in a Sideways Trend but Falls Marginally

Key Resistance Levels: 0.6600, 0.6800, 0.7000
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Ranging
NZD/USD pair is in a sideways move. The price has fallen to the previous support level at level 0.65300. It appears the sideways move, may resume as price moves up.

Daily Chart Indicators Reading:
The Kiwi has fallen to level 53 of the Relative Strength index period 14. It implies that the pair is in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the previous trend.


NZD/USD Medium-term Trend: Ranging
On the 4-hour chart, the NZD/USD pair is now in a sideways move. The price is still fluctuating between levels of 0.65500 and 0.6700. The Kiwi is yet to trend. Presently, the price is sloping downward.

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping horizontally. It indicates the recent sideways move. The pair is above 20 % range of the daily stochastic. It indicates that the market is in a bullish momentum. However, the current momentum is weak.

General Outlook for NZD/USD
The NZD/USD pair is in a sideways move. The price is fluctuating marginally downward. Nonetheless, the direction of the market is not clear.


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